1. The Florida State University College of Medicine provides educationally oriented clinical practice settings and opportunities, through which faculty members provide health care and treatment to patients, including patients at independent hospitals, other institutions, and various clinical sites as an integral part of their academic activities and employment as faculty. Such faculty practice activities are designed to assure clinical practice opportunities and experiences that are essential in the training of students and postgraduate health professionals and that will enhance skills and knowledge of faculty members who must teach and train medical and other health professional students. Participation in such faculty practice activities by members of the faculty of the College of Medicine is vital to the educational mission, the maintenance of skills in the treatment and diagnosis of disease, and the maintenance of patient management skills, clinical expertise, and medical judgment, and is a necessary and essential part of their employment as faculty. Because these faculty practice activities generate income from a cross section of patients served by faculty members, the College of Medicine is authorized to regulate fees generated from faculty practice, and to develop and maintain a faculty practice plan for the orderly collection and distribution of such fees. The College is authorized to form corporate entities to achieve the objectives of the faculty practice plan. The faculty practice plan, when developed, and subsequent changes therein, must be approved by the Dean of the College of Medicine and the President of the university prior to approval of the Board of Trustees. The faculty practice plan must be consistent with, and supportive of, the objectives of the College of Medicine and the university.
2. The faculty practice plan shall include and/or provide for:
1. A written document that describes the university’s policies and procedures pertaining to faculty practice activities and the resulting professional fees.
2. Articles of incorporation and bylaws.
3. A separate bank account into which all faculty practice fees are to be deposited, which shall be held and administered by the faculty practice plan on behalf, and under the control, of the university.
4. An operating budget, prepared at least annually and recommended by the dean of the College of Medicine and university president to the Board of Trustees for review and oversight.
5. An annual audit and management letter that shall be forwarded to the Board of Trustees for review and oversight.
6. The faculty practice plan shall not be involved in the delivery of medical services, including, but not limited to, the maintenance of any medical facilities.
7. The faculty practice plan shall not employ medical doctors or other health care professionals, and shall not determine, control, or evaluate any medical procedures or standards for any medical doctor or for any other health care professional or facility.

Specific Authority: Florida Board of Governors Regulation Development Procedure for State University Boards of Trustees. Law Implemented: 1001.74(36), FS. History: New.